India’s state-owned power generator NTPC Ltd is planning to invest over Rs 1.3 lakh crore in setting up power projects of 21,000 Megawatt capacity across the country, the firm’s Chairman and Managing Director, Gurdeep Singh said in his speech at the company’s 41st Annual General Meeting.
Singh also said the company managed to reduce cost of generation by 40 paise per unit last financial year as compared to 2014-15 owing to increased cost efficiency in coal sourcing. This included rationalizing coal allocation, appointing Central Institute of Mining and Fuel Research for third party sampling and reducing imported coal consumption by 85 per cent.
NTPC Group has a current installed capacity of 51,698 MW which includes 800 MW of hydro, 870 MW of solar, and 40 MW of wind capacity. Also, the company has just commissioned its first 800 MW unit at Kudgi in Karnataka. NTPC is working on a long-term target to add 32 GW of renewable energy capacity by 2032, in addition to the 15 GW of solar capacity it is helping to be set up through National Solar Mission.